Bank owned homes in the Traverse Bay Area

Bank Owned Homes

Although we see a limited number of bank owned homes in this area, there are some available. Almost all bank owned homes become listed and banks rarely deal directly with anyone other than a few brokerages.

Bank Owned Homes Statistics

Total Listings: 46
Average Price: $91,813
Highest Price: $329,900
Lowest Price: $15,000

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Bank Owned Homes

All Listings Under $100,000 $100,000 - $200,000
$200,000 - $300,000 $300,000 - $400,000
New Listings First
16 Properties Found.

7717 Nw Hahn Circle Drive

$27,900

Rapid City, Michigan
3 Bed, 2 Bath, 1600 Sqft, 0.55 Acres
Single Family

5601 Walton Road

$115,000

Kingsley, Michigan
3 Bed, 1 Bath, 1344 Sqft, 26.52 Acres
Single Family

8761 Partridge Lane

$28,900

Mancelona, Michigan
3 Bed, 1½ Bath, 1352 Sqft, 10 Acres
Single Family

4066 Woodman Road, Sw

$36,000

South Boardman, Michigan
2 Bed, 1 Bath, 864 Sqft, 0.94 Acres
Single Family

7125 Crawford Road

$199,900

Central Lake, Michigan
2 Bed, 2 Bath, 1456 Sqft, 22 Acres
Single Family

525 Georgetown Drive 62

$139,900

Traverse City, Michigan
2 Bed, 1½ Bath, 917 Sqft
Single Family

3194 W Sharon Road

$99,400

Fife Lake, Michigan
3 Bed, 2 Bath, 1272 Sqft, 10 Acres
Single Family

946 Napolean Way

$329,900

Traverse City, Michigan
5 Bed, 3½ Bath, 2660 Sqft, 0.57 Acres
Single Family

Photo of Listing #1853232

13745 S Armstrong Trail

$299,900

Empire, Michigan
4 Bed, 3 Bath, 2560 Sqft, 10.02 Acres
Single Family

Photo of Listing #1852547

4809 Pine Street Sw

$56,000

South Boardman, Michigan
1 Bed, 1 Bath, 1000 Sqft, 0.25 Acres
Single Family

Photo of Listing #1852600

1105 Orchard

$119,900

Benzonia, Michigan
2 Bed, 2½ Bath, 1982 Sqft, 0.25 Acres
Single Family

Photo of Listing #1852375

7132 Second Street

$90,000

Thompsonville, Michigan
3 Bed, 1 Bath, 1300 Sqft, 0.55 Acres
Single Family

Photo of Listing #1849400

803 Forest Avenue

$265,000

Frankfort, Michigan
4 Bed, 1½ Bath, 4601 Sqft, 0.17 Acres
Single Family

Photo of Listing #1846758

4710 Ritt Road

$113,000

Bellaire, Michigan
3 Bed, 2 Bath, 1975 Sqft, 0.41 Acres
Single Family

Photo of Listing #1846501

548 Crystal Avenue

$199,900

Frankfort, Michigan
5 Bed, 7½ Bath, 3000 Sqft, 0.84 Acres
Single Family

Photo of Listing #1843552

10506 Deadstream Road

$109,900

Honor, Michigan
5 Bed, 2 Bath, 1808 Sqft, 2 Acres
Single Family

More information on Traverse Bay Area bank owned homes

Bank owned and repo homes in the Traverse Bay and Traverse City area can be a great deal, however, keep in mind that not all bank owned homes are deals.  Often they have been poorly maintained and if the bank gained possession of the home during the cold months, we have often seen frozen pipes.  This is not always the case and it is definitely worth considering a bank owned home.  Whether you are looking for a waterfront bank owned home, a bank owned Traverse City condo or just want to use our advanced bank owned search, TBAR Search has all the listed Traverse City bank owned homes.

 The best way to keep up with the market and to be one of the first to know about new or revised bank owned listings is to get set up with automatic email notifications.  Just let us know what you are looking for and we can get you set up and remember, you can opt out or change your search criteria anytime.

Also, here are the answers to a few bank owned home questions.

Do banks typically take much less than list price for their Traverse City area bank owned homes?

No, most often banks will have three basic appraisals  (often referred to as BPO's  - Broker Price Opinions) and will set a list price based on a those appraisals, along with other items.  Banks will then typically accept within 5% of list price, often depending on how long it has been at that price.  The banks will most often reject offers less than that, or counter back at full price.  If the asset (home) does not get an accepted offer within 45-60 days, the bank will usually reduce the price and go through the same scenario.  With that said, we have seen banks accept much less also, so it may be worth a try if it has been on the market for a while.

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.